And he fell gold In spot transactions, it rose 0.4 percent to $2,614.56 per ounce by 0845 GMT, after recording the lowest level since November 18 earlier in the session.
US gold futures fell 0.1 percent to $2,614.80.
Gold fell 3.2 percent yesterday, Monday, its largest daily decline in more than five months, against the backdrop of news of Israel’s readiness to agree to an American proposal for a ceasefire with the Hezbollah group, in addition to the nomination of US President-elect Donald Trump for Scott Besant as Secretary of the US Treasury in his administration.
At the same time, the Kremlin said that it had noticed a circle Trump She talks about a possible plan to bring peace to Ukraine.
“The decline in geopolitical risks leads to a decline in gold prices,” said Soni Kumari, commodity strategist at ANZ, adding that the rise of the dollar also reduces investors’ desire for safe havens, according to Reuters.
The dollar rose 0.3 percent after Trump pledged to impose heavy tariffs on Canada, Mexico and China, which reduced the appeal of the yellow metal to holders of other currencies.
“The focus will again be on the Fed’s December meeting,” Kumari said.
Minneapolis Federal Reserve Bank President Neel Kashkari, who usually leans towards tightening monetary policy, said he was open to cutting interest rates again next month.
Traders are awaiting the release of US consumer confidence data and the minutes of the November Federal Reserve meeting later today.
“I expect gold to trade in a narrow range in the short term, with a slight trend to the upside,” said Matt Simpson, senior analyst at City Index.
As for other precious metals, silver fell in spot transactions 0.1 percent to $2,614.80 per ounce, platinum fell 1.1 percent to $928.40, and palladium fell 0.2 percent to $971.10.